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Business deals

Toyota and Panasonic to build electric car batteries together

Japanese duo eyes pole position in field crucial to auto industry's future

Panasonic supplies lithium-ion batteries and solar panels for Toyota's Prius plug-in hybrid.

NAGOYA, Japan -- Toyota Motor and Panasonic plan to set up a joint venture in 2020 to manufacture batteries for electric vehicles, joining forces to compete more effectively on cost and scale with rising Chinese players in a key area for the future of the auto industry, Nikkei has learned.

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